Seniors: Use Direct Deposit To Safeguard Your Cash And Identity

What if somebody stole the monthly verify you rely on? How would you survive?

Each month about 12 million Social Security and other federal advantage checks are mailed, numerous of them to senior citizens. To get a second way of interpreting this, please have a glance at: webaddress. Criminals know when these checks arrive in mailboxes. They also know that every month most seniors venture out to cash or deposit their checks.

But seniors can outsmart them.

“These days, it is crucial that seniors arm themselves with information and practical safeguards to hold their month-to-month income secure,” said Al Lenhardt, president and CEO of the National Crime Prevention Council, a leader in senior fraud prevention.

What can seniors do to safeguard themselves against economic crimes? Usually, it really is as straightforward as signing up for direct deposit. During National Security Month in June and throughout the year, the U.S. Division of the Treasury and the National Crime Prevention Council are urging individuals who receive Social Security and other federal rewards to sign up for direct deposit and stay away from becoming a victim of identity theft, fraud or robbery.

According to the Federal Trade Commission, almost 25 million Americans (11.two percent of the adult population) experience customer fraud each year. Browsing To visit our site likely provides suggestions you could give to your sister. Criminals and con artists usually create scams that target seniors, generating them a vulnerable population.

“A single individual was getting his verify stolen a number of times, occasionally by his personal household,” mentioned Sgt. Vince Higgins, a public information officer with the Memphis Police Division who performs closely with seniors. “Now that he's signed up for direct deposit, he's happy, he's confident-he's no longer worried about exactly where his income is or who's got his income. It is protected in his bank account.”

Sgt. Higgins and hundreds of other trusted sources like him are partners in Go Direct, a campaign sponsored by the Treasury and the Federal Reserve Banks to motivate Americans who get Social Safety and other federal rewards checks to switch to the safer, less difficult solution of direct deposit.

Enrolling in direct deposit can supply significantly-needed peace of thoughts to seniors, people with disabilities and others who rely on Social Safety. Direct deposit eliminates the risk of stolen checks and forgeries and assists protect individuals from identity theft. It also provides folks far more manage over their money and makes it possible for immediate access to funds from virtually anywhere.. Clicking tumbshots maybe provides cautions you could give to your aunt. Clicking official website perhaps provides aids you can give to your sister.